Monroe, IN
Population 629 · Indiana
About Monroe, IN
Monroe is a small community located in Indiana with a population of 629 residents according to the latest US Census Bureau American Community Survey data. The median household income is $70,000 per year, which is 7% below the national median of $75,149. The median age of 30 years is notably younger the US median age of 38.9 years, indicating a younger, often more dynamic population base.
Housing Market Overview
The housing market in Monroe features a median home value of $145,300, which is 41% below the national median of $244,900. This makes Monroe one of the more affordable markets in the country, potentially attractive for first-time homebuyers. Median monthly rent is $670, 42% below the national average of $1,163/month. Of the 222 total housing units, 79% are owner-occupied (174 units) and 21% are renter-occupied (46 units). The high homeownership rate suggests a stable, established residential community.
Economy & Employment
The local economy in Monroe shows an unemployment rate of 0.3%, which is lower than the national rate of 3.7%, indicating a relatively strong job market. The poverty rate stands at 11.3%, below the national average of 12.4%, reflecting generally favorable economic conditions. Workers in Monroe have an average one-way commute time of 19.4 minutes, one of the shorter commutes in the region.
Education & Demographics
20.9% of Monroe residents aged 25 and older hold a bachelor's degree or higher, compared to the national average of 33.7%. The lower educational attainment rate may reflect the area's industry mix, with more employment in trades, manufacturing, or agricultural sectors. The community's demographic composition includes 5.6% White, 1.6% Hispanic or Latino, 0.0% Black or African American, and 0.0% Asian residents, with 0.0% of the population being foreign-born.
How Monroe Ranks in Indiana
Cost of Living in Monroe, IN
Compared to national averages, Monroe has a median household income of $70,000 (7% below the national median of $75,149). Home values average $145,300, which is 41% below the national median. Monthly rent at $670 is 42% below the US average of $1,163. Within Indiana, Monroe's income is 1% above the state average of $69,330, and home values are 11% below the state median of $163,409.
Why Live in Monroe, IN?
Monroe offers affordable housing with a median home value of $145,300, below the US average of $244,900, and rent that’s lower than the national average at $670/month, and a strong job market with an unemployment rate of just 0.3%. Additionally, the city features a low poverty rate of 11.3%, better than the national average, and short commute times averaging just 19.4 minutes.
Potential considerations include median household income ($70,000) that falls below the national average. However, Monroe’s smaller community size offers a quieter lifestyle and tight-knit neighborhoods.
Monroe has a population of 629 with a median age of 30 years. Compare Monroe with other cities to see how it stacks up, or explore all cities in Indiana.
Similar Cities Near Monroe
Cities in Indiana with a similar population size.
Demographics
Racial & Ethnic Composition
Economy & Education
Housing
Other Cities in Indiana
Data source: US Census Bureau ACS 5-Year Estimates. Last updated: 2026-04-05.
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Frequently Asked Questions about Monroe
What is the population of Monroe, IN?
The population of Monroe, IN is 629 according to the latest US Census Bureau American Community Survey estimates. This makes it a small community in Indiana.
What is the median household income in Monroe?
The median household income in Monroe, IN is $70,000 per year, which is 7% below the national median of $75,149.
What is the median home value in Monroe?
The median home value in Monroe, IN is $145,300, which is 41% below the national median of $244,900. The majority of housing units are owner-occupied.
What is the average rent in Monroe?
The median monthly rent in Monroe, IN is $670, which is 42% below the national average of $1,163/month.
What is the unemployment rate in Monroe?
The unemployment rate in Monroe, IN is 0.3%, compared to the national average of 3.7%. This lower-than-average rate suggests a relatively healthy local job market.
Is Monroe, IN a good place to live?
Monroe offers a moderate cost of living, affordable housing, and a strong job market. With a population of 629 and a median age of 30, the city appeals to young professionals and families.
How educated is Monroe, IN?
20.9% of residents in Monroe aged 25 and older hold a bachelor's degree or higher, compared to the national average of 33.7%. The educational profile reflects the area's industry mix and employment landscape.
What is the cost of living in Monroe?
Key cost-of-living indicators for Monroe, IN: median home value is $145,300 (41% below national), median rent is $670/month, and median household income is $70,000. The home-value-to-income ratio is 2.1x, indicating relatively affordable housing relative to local incomes.
What is the poverty rate in Monroe?
The poverty rate in Monroe, IN is 11.3%, compared to the national average of 12.4%. This below-average poverty rate reflects generally favorable economic conditions in the community.
How diverse is Monroe, IN?
Monroe's population is 5.6% White, 1.6% Hispanic or Latino, 0.0% Black or African American, 0.0% Asian, and 0.0% two or more races. 0.0% of residents are foreign-born.